1. Field of the Invention
The present invention relates to an optical card transaction system for providing greater security by having the ability to verify both the card and the user and for easier exchange of information when performing transactions.
2. Description of the Prior Art
Plastic wallet-sized cards are commonly used to perform a variety of different transactions. These cards are currently being utilized as credit/debit cards for the purchase of products, as a means for identification, and as keys to allow entrance to secured areas. The size of the card and its light weight make these cards ideal for carrying out transactions
These cards typically have a magnetic strip running across a surface. This magnetic strip is typically encoded with information pertaining to the cardholder or information needed to perform a particular transaction. This information is typically directly inputted into a computer or other microprocessor based device by scanning the magnetic strip through a magnetic reader.
One drawback to the cards currently being used is that the amount information capable of being stored onto the magnetic strip is limited. The data capacity for a single magnetic strip three inches long and having 3 tracks therein, the type typically found on most conventional credit cards, is roughly 220 bytes. Consequently, the type of information that can be stored on the card is limited, and the type of transactions, which the card can be used for, is limited, as well.
Information which can be utilized to enable the card holder to process more complicated transactions requiring the input of additional information such as an address, phone number, or social security number are often not available on the card. This information is typically manually inputted at the transaction point. Furthermore, information that could be used in order to prevent the fraudulent use of the card such as a digital image of the authorized cardholder or a digital image of the cardholder""s signature.
Increased storage capabilities of these cards would also allow for new uses, which are not currently possible. One such use is for the carrying of medical records. A wallet-sized card containing the cardholder""s medical records can be easily carried by the cardholder, much like a common credit card, at all times, making the cardholders medical records easily accessible in times of emergency.
Optical disks are commonly used to store and transfer information. An optical disk having a 3xe2x85x9c inch diameter can typically store around 35 Megabytes of information. However, these disks are typically not used to perform normal transactions because they require the use of optical scanners which are typically more expensive than the typical magnetic readers used for scanning magnetic strips on typical cards. These optical disks are not compatible with the magnetic readers currently being utilized by most merchants.
Accordingly, there is a need for a wallet-sized card that is capable of storing more information than is currently available on a common wallet sized card having a magnetic strip but is capable of being utilized for transactions requiring the use of a magnetic strip based card.
The present invention is an optical transaction card system with a wallet-sized optical transaction card consisting of one layer which is an optical recording medium capable of optically storing around 35 Megabytes of information and a second layer having a magnetic strip thereon allowing the card to be used in a similar fashion as a typical credit card.
As will be described in greater detail hereinafter, the present invention solves the aforementioned and employs a number of novel features that render it highly advantageous over the prior art.
Accordingly it is an object of this invention to provide a wallet-sized card that is capable of storing more information than is currently available on a common wallet sized card having a magnetic strip but is capable of being utilized for transactions requiring the use of a magnetic strip based card.
To achieve these objectives, and in accordance with the purposes of the present invention the following optical transaction card for use in securely carrying out a variety of different transactions and for digitally storing personal information is presented.
The optical transaction card is relatively rectangular in shape with two opposing rounded sides and sized to fit in most wallets. The optical transaction card is comprised of a first layer, a second layer, and a magnetic strip.
The first layer is made of an optical recording medium having a first optical surface and a second optical surface. In the preferred embodiment, the optical recording medium has a plurality of concentric tracks radially surrounding the axial center of the optical transaction card. The first layer is optically scanned by focusing a laser beam through the first optical surface.
The second layer is adhered to the first layer. The second layer has a first surface and a second surface. The second surface is adhered to the second optical surface of the first layer. The second layer is typically imprinted with the name of the company issuing the card, the name of the cardholder, an identification number, and graphics.
The magnetic strip is adhered to the first surface of the second layer and extends horizontally along the first surface. The magnetic strip has a plurality of linear tracks in which information is stored. The information on the magnetic strip being readable by running the magnetic strip across a magnetic reader, allowing the optical transaction card to be used with magnetic reader based transaction systems.
The optical transaction card is placed into an optical scanner, which is digitally connected to a first processor means with a printer and a visual display. The information stored on the first layer of the optical transaction card is optically scanned and any information necessary for the completion of the transaction is inputted into the first processor means. Additional information necessary for the determination of whether the transaction is approved such as personal identification codes and merchandise prices are inputted into the first processor means through the use of bar code scanners, data entry terminals, and other means for inputting data.
A communication link is established between the first processor means and a second processor means through which authorization for the transaction can be obtained. Once a communication link is established, information obtained from the optical transaction card and transaction parameters inputted into the first processor is sent to the second processor means.
The second processor means determines whether the transaction is approved and if the transaction is approved, the second processor means sends authorization for the transaction to the first processor means. If the transaction is approved, the first processor means then takes the information obtained from the optical transaction card and inserts this information into a contract or receipt for the transaction. The contract or receipt is then printed out by the printer 33.
In most uses of the optical transaction card, the optical transaction card is used as a credit or debit card in a transaction for the purchase of merchandise. The ability of the optical transaction card to store around 35 Megabytes of information in its first layer makes it particularly useful in carrying out transactions for the purchase of merchandise. Information such as identification code numbers, cardholder name, addresses, phone numbers, birth date, E-mail address, physical description, digital image of the card holder, digital image of the signature, finger prints, palmprints, eye photos, voice prints and other identifying means can be stored on the card.
The optical transaction card allows the seller of the merchandise to verify that the person presenting the optical transaction card is the authorized cardholder. If a card user is purchasing merchandise at a store, the optical transaction card is scanned and the second processor means provides validation by comparing the information stored on the optical transaction card with the authorized card holders information. A person carrying out the transaction can verify that the card user is the authorized cardholder by comparing the digital image of the authorized cardholder or his signature.
The optical transaction card also allows the seller to directly print information onto a contract or receipt eliminating the need to fill out forms or to manually input data. For the purchase of goods occurring over the internet through a website, the first processor means is able to download information from the optical transaction card directly into the website eliminating the need to manually input the information. If the seller has a magnetic reader based transaction system, and has no means to optically scan the optical transaction card, the seller can employ the magnetic strip on the optical transaction card 11 to scan using a conventional magnetic reader.
Other information not usually stored on a conventional credit or debit card but which may be needed to complete a transaction such as the cardholder""s insurance company, health records, and demographics could also be stored on the optical transaction card. This allows the optical transaction card to be used in a wide variety of different transactions.
Other objects, features, and advantages of the invention will become more readily apparent upon reference to the following description when taken in conjunction with the accompanying drawings.